Analyst company praises ‘state-of-the-art’ digital PLM model that improves ROI and business outcomes for clients
NEW YORK; Nov. 11, 2014 – Accenture’s (NYSE: ACN) application of new technology and processes to help clients with the complexities of product innovation and development has been recognized by industry analysts CIMdata for its ability to enable customers to improve business performance.
In a new commentary, “Accenture Unveils Digital Product Development Framework: Every business is a digital business,” CIMdata examines how new technologies can be applied to transform operating models and new revenue streams for product manufacturing companies. The report assesses Accenture’s Digital PLM (Product Lifecycle Management) Development Network and the range of technologies and processes that this can apply to products throughout the lifecycle.
As product complexity has increased, manufacturing companies have been investing in automation, analytics and collaboration tools. PLM technologies and processes are at the core of this as they support the data and information for a product’s design and manufacture throughout its lifecycle. Accenture’s Digital PLM Development Network provides companies with the capabilities required to manage the information and data about a product across the enterprise.
In analyzing Accenture’s Digital PLM Development Network, CIMdata said: “The strategy goes beyond technology enablement, and drives the paradigm shift from optimizing the development and production of products, to an integrated network of people, processes, and technologies. This network enables companies to implement new operating models that improve ROI and business outcomes and better satisfy customer wants and needs.”
Accenture’s new development framework is designed around a new approach to PLM, moving from a linear to a network design, with the product definition data at the center of the model. It is accessible to the relevant parts of the business at any time, removing the inefficiencies of the traditional linear methodology by introducing interconnected processes. It is built upon social, mobile, analytics, and cloud technologies to provide a robust platform.
“Accenture believes that Digital Industry 4.0, where highly intelligent cyber physical systems are connected to create the Industrial Internet of Things, requires better integration of engineering and product development; production and technology; and supply chain with marketing and sales for efficient product development,” said Eric Schaffer, senior managing director, Accenture. “This digital network approach to PLM will help companies improve product innovation and overcome the complexities of managing a product through its lifecycle.”
In June, Accenture Product Lifecycle Services (APLS) was launched. APLS combines capabilities from Accenture’s strategy, digital, technology and operations growth platforms, with industry-specific services across manufacturing and engineering, all supported by established alliances with leading PLM vendors. This business service helps manufacturing clients better organize, develop and manage products and services, from idea to retirement. The outcome can include increased revenues, reduced costs and time to market for new products.
Strengthened by the acquisitions of PRION, PCO Innovation and businesses from evopro Group, Accenture provides a range of PLM services to improve innovation and product development performance, from idea to retirement, for a range of industries including aerospace; automotive; consumer goods and services; energy; industrial equipment; life sciences; public transportation and utilities.